Shrewsbury Town takeover bid collapses according to reports

Shrewsbury Town will need look elsewhere for new investment following the end of a takeover deal from a possible American owner.

The current deal on the table, to end long-serving chairman Roland Wycherley's 29-year ownership of the struggling League One club, had been under discussion since first being publicly announced in September.

Although the prospective new owner's application had not yet been submitted to the English Football League Owners and Directors 'fit and proper person' test, it had nearly reached completion following a six-month exclusivity period.

That period ends today (31^st March), after which time Shrewsbury would be free to talk to any potential bidders.

Reports in the media says it looks like the takeover has already collapsed as the interested party had decided the timing was not right due to a liquidity issue from another business. But, in reality, the proposed first-choice bidder wanted to spend the weekend ahead of Monday's deadline thinking it through.

The news follows Gareth Ainsworth’s departure as Head Coach last week to join Gillingham.